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BankPurely Review 2022

Updated December 2, 2022
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At a glance

4.5
Rating: 4.5 stars out of 5
Bankrate Score
Caret Down

CDs

Rating: 4.4 stars out of 5

Checking

Rating: 4.8 stars out of 5

Savings

Rating: 3.9 stars out of 5

MMA

Rating: 4.4 stars out of 5

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Overview

Consumers looking for a bank that supports environmental initiatives may find BankPurely a good choice. It offers a range of deposit products, many with competitive APYs.

Highlights

  • Free Checking
  • High APY
Compare offers
Bank logo
Member FDIC
Savings Account
3.85
%
APY
Rating: 4.5 stars out of 5
$0
Min. balance for APY
View offer Arrow Right
Bank logo
Member FDIC
Savings Account
3.60
%
APY
Rating: 4.5 stars out of 5
$0
Min. balance for APY
View offer Arrow Right
Bank logo
Member FDIC
Savings Account
3.60
%
APY
Rating: 4.5 stars out of 5
$0
Min. balance for APY
View offer Arrow Right

Overall

BankPurely is a financial institution created for environmentally conscious consumers.

Pros

  • Checkmark

    BankPurely provides an eco-friendly banking option for environmentally conscious consumers.

  • Checkmark

    All deposit products pay APYs above the national average or better.

  • Checkmark

    Account holders have free access to thousands of ATMs.

Cons

  • Only one CD term is offered.

  • A steep $25,000 deposit is needed to open the money market account and earn interest.

BankPurely bank products

3.9
Rating: 3.9 stars out of 5
Bankrate Score

BankPurely savings overview

BankPurely’s SavingsPurely savings account pays an APY that’s above the national average, though consumers searching for more competitive yields can easily find higher rates elsewhere. The account requires only $100 to open, and it doesn’t charge a monthly fee.

Pros

  • Checkmark

    BankPurely’s savings account requires only $100 to open.

  • Checkmark

    There’s no monthly service fee.

Cons

  • The APY is above the national average, but you can find higher yields elsewhere.

Compare Offer
Bank logo
Member FDIC
Savings Account
3.85
%
APY
Rating: 4.5 stars out of 5
InfoHover for more
$0
Min balance for APY

Bank experience

BankPurely says it’s a “purely digital experience, specifically crafted for people banking on a better world.” The bank offers tools and features to help support its eco-friendly mission, which includes online banking, as well as a mobile app for iOS and Android devices. Customers can deposit checks through the app.

Customer service representatives are available seven days a week from 7 a.m. to 11 p.m. Eastern time.

About BankPurely

BankPurely, a division of Flushing Bank, is a financial institution created for environmentally conscious consumers. The bank has no branches, helping to reduce its carbon footprint, and uses paperless bill pay and e-statements. BankPurely even says it will plant a tree for every account opened.

BankPurely offers a range of deposit products that pay competitive annual percentage yields (APYs) and charge no fees.

Review methodology

With so many financial institutions to choose from, it can be hard to know who to trust. Bankrate’s ever-growing list of bank and credit union reviews is updated regularly. Our editorial team analyzes and reviews each institution across deposit products such as savings accounts, checking accounts, certificates of deposit (CDs) and money market accounts (MMAs). Banks are rated by important factors such as offered interest rates, fees, minimum balance requirements, access to funds and more.

We assign a score to each type of account and its features, weigh them carefully based on importance to account holders and determine an overall score. Read our full review methodology.